Benefits of an ERP System
With the global ERP software market predicted to be worth $41.69 billion at the beginning of 2021, the impact of these systems is evident.
While that number is remarkable, those who have never used the software may find it hard to understand why ERP is significant to their business.
But as globalization embraces the market for countless businesses, it’s crucial to seek out any tools that will give your business a competitive edge. For many companies, this is accomplished through the use of our ERP software CNX247.
CNX247 is used by organizations looking to manage their business functions within a centralized and integrated system.
ERP is mostly used by companies working within the supply chain to support and keep track of all the moving parts of manufacturing and distribution.
However, our ERP software CNX247 can be used by many different industries including those in healthcare, nonprofit groups, construction, and hospitality.
Organizations that need to manage their staff, customers, and inventory can all depend on CNX247 benefits.
CNX247 helps store all entered data into a singular database, allowing all departments in a business to work with the same information.
In addition, all this data can be organized, assessed, and made into reports.
CNX247 brings together customer management, business intelligence, human resources, financial management, inventory, and supply chain capabilities into one system.
Basic Modules of CNX247 ERP System
You need to understand the basic modules that can be found in any ERP system.
Accounting
The accounting module manages the entire incoming and outgoing cash flow.
It also assists companies in handling several accounting transactions such as expenditures, general ledgers, balance sheets, bank reconciliation, tax management, budgeting, and so on.
The company financial statements can be made with just a few clicks with the accounting module.
Customer Relationship Management (CRM)
The Customer Relationship Management (CRM) module helps enhance sales performance through better customer service and build healthy relationships with customers.
It also helps businesses manage and track detailed information of their leads and customers including their communication history, meetings, calls, past purchases, etc.
Human Resource Management (HRM)
The HRM (Human Resource Management) module helps improve the effectiveness of the HR department.
It helps businesses manage employee details such as performance appraisals, skills, job descriptions, attendance, leave, and many more.
Payroll Management is one of the most significant sub-modules in the HRM module that works to manage payroll, travel costs, and reimbursements.
Sales
This module function is to handle the sales workflow such as sales enquiries, sales orders, quotations, and invoices.
The combination of Sales and CRM modules can improve the sales cycle and generate greater revenue for the company.
Inventory
The inventory module is useful for tracking and managing inventory in a company including monitoring inventory levels, forecasting purchases, scheduling orders, and generating inventory reports.
The inventory module will be more efficient if used with the purchase module.
Purchasing
This module manages the processes involved in the purchasing of goods.
These can include supplier listing, purchase orders, quotation requests and analysis, goods receipt notes, and stock updates.
This module can be combined with the inventory module for more ideal stock management.
Manufacturing
This module works to improve efficiency in manufacturing processes, such as; product development, daily production monitoring, material routing, and Bill of Materials.
How is CNX247 important?
According to the latest statistical data, 81 percent of businesses are in the course of implementing ERP or have already implemented it.
These businesses would never consider implementing ERP in the first place if the ERP doesn’t have advantages for their businesses.
Let’s break down the benefits of a CNX247 for your business.
1. More Money Saved
CNX247 packages are still a big investment. For many people, the costs alone can make it look like the program won’t end up saving your business any money at all. But once you get past the initial doubt, you will see how CNX247 can provide an excellent ROI.
First, CNX247 joins many of the systems that may be uneven in your organization. From product planning to accounts payable, your employees will be able to access all the needed tools for their job from one centralized system.
By unifying systems, you help your employees use their time more efficiently. With CNX247, users won’t have to hunt down a piece of information across multiple systems. With the central database feature CNX247 provides by default, information will be much easier to retrieve.
Plus, your business saves money with CNX247 by removing the need for users to be trained on multiple systems. And it also reduces the logistical effort that will be involved. Instead of setting up several training sessions with several different programs, you would only need to communicate with one. CNX247.